Orthocell expands into HK with Ortho-ATI
Regenerative medicine company Orthocell (ASX:OCC) has expanded the reach for its Ortho-ATI tendon repair therapy, recording its first sales in Hong Kong.
The first two Hong Kong patients have been treated with the stem cell-based therapy by orthopaedic surgeon Jason Brockwell from sports orthopaedic group Asia Medical Specialists.
Ortho-ATI involves taking tendon cells from a patient, culturing them and injecting them into the patient’s damaged tendon to help regenerate the damaged tissue.
Orthocell is targeting expansion into Asia as a key strategy for the product, and managing director Paul Anderson called the Hong Kong win “an important step forward” for these efforts.
“There is great interest for a clinically effective treatment that has long-term durability and cost-effectiveness,” he said.
APAC is expected to be the fastest-growing region for the global regenerative medicine market through to 2020, according to Allied Market Research. The global market is on track to grow to US$67.6 billion ($87 billion) by this time, up from US$16.4 billion in 2013.
Orthocell also recently picked up a Chinese patent covering its Celgro collagen reconstructive platform technology as part of its Asian expansion plans.
Orthocell (ASX:OCC) shares were trading 2.6% higher at $0.39 as of around 1.30 pm on Monday.
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